AJG Capital v AJG Properties [2010] NSWSC 884

In this case the CBA had a first mortgage and the NAB had a fixed and floating charge. The administrators of the borrower sought orders for judicial sale and the NAB cross claimed seeking orders for judicial sale outside of court. The evidence showed that there would be very little money after the CBA was paid out to satisfy the NAB’s charge. Accordingly NAB had a very strong incentive to get the best possible price and noone else had an interest which needed protection. Accordingly, the court made the orders for judicial sale outside the court.

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